Pzena Investment Management LLC Boosts Stake in Cardinal Health Inc (CAH)

Pzena Investment Management LLC grew its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,950,460 shares of the company’s stock after purchasing an additional 143,938 shares during the period. Pzena Investment Management LLC’s holdings in Cardinal Health were worth $119,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. AI Financial Services LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at about $1,637,000. Norinchukin Bank The boosted its holdings in shares of Cardinal Health by 7.4% in the fourth quarter. Norinchukin Bank The now owns 26,003 shares of the company’s stock worth $1,593,000 after buying an additional 1,789 shares during the period. American International Group Inc. boosted its holdings in shares of Cardinal Health by 5,859.3% in the fourth quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock worth $488,284,000 after buying an additional 7,835,654 shares during the period. TCW Group Inc. boosted its holdings in shares of Cardinal Health by 11.5% in the fourth quarter. TCW Group Inc. now owns 1,537,591 shares of the company’s stock worth $94,208,000 after buying an additional 158,501 shares during the period. Finally, Wetherby Asset Management Inc. boosted its holdings in shares of Cardinal Health by 15.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 9,041 shares of the company’s stock worth $554,000 after buying an additional 1,198 shares during the period. Institutional investors own 89.77% of the company’s stock.

Several research analysts have commented on CAH shares. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a report on Monday, November 20th. Deutsche Bank started coverage on shares of Cardinal Health in a report on Monday, December 4th. They issued a “hold” rating and a $64.00 target price for the company. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Evercore ISI started coverage on shares of Cardinal Health in a report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.84.

Shares of Cardinal Health Inc (NYSE CAH) opened at $68.84 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The stock has a market cap of $21,821.78, a P/E ratio of 11.97, a PEG ratio of 1.50 and a beta of 0.96. Cardinal Health Inc has a 52-week low of $54.66 and a 52-week high of $84.88.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. research analysts anticipate that Cardinal Health Inc will post 5.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is 32.17%.

Cardinal Health announced that its board has initiated a share repurchase program on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Patricia Morrison sold 28,532 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $1,891,671.60. Following the completion of the sale, the insider now directly owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The disclosure for this sale can be found here. Insiders sold 55,113 shares of company stock valued at $3,815,073 over the last three months. 0.97% of the stock is owned by insiders.

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Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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